World markets in the red

World markets wallowed in the red today as investor confidence was hit by fears over slowing growth in Asian powerhouse China.

Wall Street’s Dow Jones Industrial Average fell 0.5%, while the FTSE 100 Index in London lost more than 1% or 64 points at 5896 following a senior executive at BHP Billiton’s comment that China’s demand for iron ore was “flattening out”.